BTIG Downgrades Liquidia Technologies (LQDA) to Neutral

BTIG analyst Julian Harrison downgraded Liquidia Technologies (NASDAQ: LQDA) from Buy to Neutral.

The analyst comments " Following yesterday's court ruling that LQDA infringed two claims (Claims 1 and 14) of the '327 patent, we are downgrading LQDA to NEUTRAL. We view this ruling as a negative outcome for LQDA, as its ability to market Yutrepia is expected to be restricted (LQDA stated in its PR that the company plans to pursue an appeal). United Therapeutics (UTHR, Buy, $728 PT) and LQDA have one week to submit proposed forms of judgment, and as we have previously written, we believe the final remedy (we estimate a remedy in 2026) in this ruling outcome could include up to an immediate stop for Yutrepia across indications until the PH-ILD indication is removed from its label. We also note an appellate decision could read out ~2yr from now. With the uncertainty regarding the remedy from this ruling, we are stepping to the sidelines as we await additional clarity on the path forward for Yutrepia."

For an analyst ratings summary and ratings history on Liquidia Technologies click here. For more ratings news on Liquidia Technologies click here.

Shares of Liquidia Technologies closed at $30.26 yesterday.

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